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US – Dec New Home Sales
28/01/2025 08:36 am MYT
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In Dec 2024, new home sales rose by 3.6% month-on-month and 6.7% year-on-year, to a seasonally adjusted annual rate (SAAR) of 698,000 units (figure 1).

Meanwhile, the inventory of unsold homes increased by 3.7% year-on-year to a SAAR of 494,000 units. The inventory level is equivalent to 8.5 months of supply at the current sales pace.

The average median price of new homes increased by 4.2% year-on-year to US$513,600, and the median price of new homes rose by 2.1% year-on-year to US$427,000.

For the whole year 2024, a total of 683,000 new homes were sold, a 2.5% increase from the 666,000 homes sold in 2023.


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For the coming Chinese New Year, i Capital will pause its publication for two weeks, from the week beginning 27 Jan. Our Kuala Lumpur office will be closed from 12pm on 28 Jan to 2 Feb, during which www.icapital.biz will not be updated. Normal operating hours will resume on 3 Feb. The next issue, Volume 36, number 24 of i Capital, will be dated 13 - 19 Feb 2025.

According to Chinese tradition, 2025 will be the Year of the Wood Snake. Snakes are known for their shrewdness. Their flexibility allows them to move easily on all kinds of land surface and in water. However, due to the fact that snakes are cold-blooded and are mostly dangerous, they are not well-liked. In fact, when a person is described as a snake, it carries a negative connotation of being deceitful and treacherous.

Nonetheless, it is crucial to have the shrewdness and agility of snakes to navigate safely in a world that is full of uncertainty and challenges. At the same time, like snakes, one needs to constantly undergo ecdysis to regenerate and transform to stay relevant and competitive. Let us embrace the positive qualities of snakes and welcome a prosperous Year of the Wood Snake.
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